The cost of the Australian dollar fell the most in two months after the release of data , according to which core inflation in the country slowed to a record high, increasing the possibility of easing monetary policy at the next meeting of the Reserve Bank of Australia in May.

The Australian dollar weakened against all 16 major counterparts after the Bureau of Statistics reported that the Consumer Price Index for the first three months of 2016 fell by 0.2% compared with the previous quarter. This is the first negative figure since 2008.

As of 14:11 in Sydney Aussie fell 1.4% to a mark of 76.38 to the US dollar, which is the maximum reduction of 26 February. Within three months, the Australian currency's value rose by 11%. In relation to the yen, Australian dollar currency fell by 1.6% to reach 84.85.

The average consumer price index - an important indicator for the RBA - grew by 0.15% compared to the last quarter of 2015. The trimmed mean CPI rose 1.7% year on year.